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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html' L. r2 p) [* }, K2 L4 ~
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WE ARE PETRO-CANADIANS
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ) q3 X# @* A6 G, E0 k+ |6 G
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We must now be referred to as "Petro-Canadians." 8 b! l# m( \' U; H+ ~
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WHY SELL NOW?
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& a1 K# T3 H2 e2 S V; J: ]; O$ OIf I didn't own a house in Edmonton, I'd buy right now, with the current 10% dip in prices that have doubled in the past three years. $ W- w& H3 T/ f6 ~# X8 o- \9 t
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' ], v! }7 |6 A$ ZIf I was thinking of selling, I'd hold off until 2008 or 2010.
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House prices, with a few peaks and valleys along the way, will continue to increase. : e# H5 f% @ k) y4 x
8 b c( W$ \$ D/ mWe don't quite get it. , A$ e8 A1 u9 S( K+ l7 @
4 Q: N' h; [7 H4 k6 E; V9 v, jWe're squat in the middle of the greatest industrial boom in the freakin' world! 2 O, e: c* w# u0 g! ?
& H: f8 n, i6 {2 lIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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2 h8 v" M" E) c x% K3 Y' UEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. * w( Z1 k! J6 p* b- I7 G
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. + `& g: D: O; j& P
" w) K3 C. G/ s+ W/ i1 Y: o6 ?# c5 H) s3 vTradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. 9 ~2 n" p3 ?: T% r+ U( ?& e
! b: `5 I4 x; YEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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3 T/ ^: ?+ ?% |! e/ RStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere. 0 J% c+ b: y8 k3 q$ I' k+ G4 |
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House prices will go nowhere but up. |
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